3 skills all biz people must master
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Three Skills All Three Skills All Business Persons Must Business Persons Must Master Master Naeem Zafar Charter Member TIE SV University of California Berkeley-Haas www.NaeemZafar.com 1 [email protected]
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Transcript of 3 skills all biz people must master
Three Skills All Business Three Skills All Business Persons Must MasterPersons Must Master
Naeem ZafarCharter Member TIE SV
University of California Berkeley-Haaswww.NaeemZafar.com
Personal Background• Faculty at Univ of Calif Berkeley Haas business school• Founder Concordia Ventures – advisory to entrepreneurs• CEO of three companies (semiconductor & software)• Worked in engineering, research, marketing & sales• Experience at one large multinational & 6 startups• One IPO (Initial Public Offering)• Wrote six eBooks on entrepreneurship• Raised over $70M in multiple ways (VC, asset sale, debt, angel)• Traveled to 73 countries, lived in 3• Brown University ‘81, Univ of Minnesota• Charter member of TiE Silicon Valley • President of OPEN Silicon Valley• Advised or mentors over 400 entrepreneurs
All rights reserved © Naeem Zafar2Startup Workshop
Progression of a Career
Naeem Zafar (c) all rights reserved 3
1980 2000199519901985
Veridicom
SDSIPO
Executive training
1st Startup XCAT
Silicon Valley
QuickturnSwitch to Marketing
EEHoneywell researchVHSIC Chip
designer
20102005 2015
1st CEO
Pyxis
Berkeley
AuthorConsultant
speaker
Progression of a Career
Naeem Zafar (c) all rights reserved 4
1980 2000199519901985
Deep domain knowledgeShape work ethics
20102005 2015
Cross border, cross departmental, “sales”,
negotiation, presentation skills
Proliferation thru a platform, broader impact
Three Basic Skills
1. Networking skills2. Presentation skills3. “Selling” skills
Networking
• How do you network?– Physical world– Online world
• People do business with you because they like you
Networking in Real World
• How do you know you are networking at a party or professional gathering
• What is equivalent to hello in US?
Get to Know Others
• Carry your business card– Have a single tag line that defines your– Where should people put you in their brain– Always carry a pen
• Ask people about themselves– People love to talk about themselves
What Not to Do
• Focus on your audience – Devote 2-5 minutes just on one person
• Do not look over their shoulder – They can tell!
• Write something on the back of their business card that is not about what is on the front of their card
When Are You Done Networking?
• Collect at least five business cards before you are allowed to leave the party– This will force you to have a few conversations
What to Do After?
• You have only done 20% of the work of networking
• Send an email to that person within 3 weeks – The email is NOT about you or any business
• Then send a LinkedIn request within 1 week
Building Networked Relationship
• Networking takes effort• You have to make several “emotional emotional
depositsdeposits” into your account before you can make a withdrawal
Communications Skills
• Essential to your professional success– & personal relationship success as well
• Leaning to present well will help throughout your career
• Be open!– & true
You Are The Message!
• It is not about PowerPoint• You are the message • Use aids as needed• Have your message ready & crisp
Pitching
• Explain yourself in first minute (slide zero!)• Explain the relevance of what you do• Stay at a high level• Listen for audience reaction …• Pitch again and again & fine tune
Pitching
• People listen to 7% of words that you say• They listen to 52% of your body language• Connect with your audience
– Make it relevant to them– Be clear (first in your own head)– Pause & let the message sink in!
Exercise
• Set a timer to one minute• Give your pitch to an audience• Ask the audience to write down one
sentence on what your organization does• Compare the answers to what you think
that you said
Art of Pitching
• First establish context then describe• Tell what you do, then explain rest
– Compartmentalize information
• Keep asking “so what?”
So What?
• We provide 128-bit encryption in a portable device
• It is super hard to break into our system
You can now have a secure conversation with your HQ from hotel room
Typical pitch So What! Make it personal
So What?
• We use digital signal processing in our hearing aids
• Our products increase the clarity of sound
You can hear conversations in a crowded room despite the noise
Typical pitch So What! Make it personal
Simplify Slides
• Unclutter your slides• Minimize font, style, emphasis overload
– These detract from your message
• Write & insist what words can be deleted• All articles can & should be deleted• Use “builds” only with busy slides
One Main Point Per Slide
• Do not read your slides• Supplement wordings on the slides with
words coming out of your mouth• No more than one (or 2) messages per slide
Most Important Slide
• What is the most important slide in your presentation?
• Why?
Emotionally Engage!
• Be attentive, energetic, in front!• Know your message!
– Do not read your own slides
• Engage with audience• Uses pauses effectively
Emails
• Pay attention to title of email– Will it grab attention, will they open it
• State purpose – Need an action, need approval, FYI
• Then provide supporting material• Salutation sets the right tone• Pay attention to cc list
– The curse of reply all!
You Are Always Selling!
• Selling your idea• Selling a “job offer”• Selling an idea for vacation to spouse• Selling a trip to dentist to your child
Sales in not Evil
• Sales is noble– Most engineers hate selling– Selling is considered “deceitful”
• Good selling never is
Naeem Zafar (all rights reserved 2005) 32
The Process
• Create a comfortable environment by asking permission to ask questions
• Ask questions to understand their pain• Shut up and listen to answers• Take notes• Explain how your product or service fills their
needs – but only if it does
What is Selling
• Sales is “listening”• It is putting your knowledge to solve
other’s problem
Selling is Number’s Game
• Create a system • Agree on what 2 or 3 metrics you must
measure• Develop common vocabulary• Track measure optimize
All rights reserved © Naeem Zafar 36
Common Vocabulary for Sales Stages• Prospects
– Followed up a lead, meeting, calls• Qualifications
– They have a pain that we can solve– The have budget
• Feasibility– Proving that we can solve the pain – (demo, benchmark, test drive)– Internal champion identified
• Closing– Meeting with people who have budget– Financial proposals in approval
• Closed (PO in hand!)
All rights reserved © Naeem Zafar 37
Sales Funnel
prospectqualified
closing
Purchase order100%
feasibility
leads
10% 30% 50% 70% 90%
All rights reserved © Naeem Zafar 38
How Many Lead if Expecting 5 Orders?
Purchase order100%
prospectqualified
closing
feasibility
leads
10% 30% 50% 70% 90%
2:1
2:1
4:17:1
560!
Reporting on Sales Funnel
Prospect Contact Target amount
Prob. of closing
Channel Long term potential
All rights reserved © Naeem Zafar 40
Listen!
• Tell prospects about benefits of your offering• Ask if any of these resonate with them• If not then ask what would• Then listen as they just told you how to sell to
them
Naeem Zafar (all rights reserved 2005) 41
Common Mistakes• People are usually not prepared to ask good
questions• They are afraid asking questions make them look as if
they don’t already know the answers• They can’t shut up • They don’t listen
– Hearing is involuntary, listening is not• They don’t take notes
– Lazy of don’t consider information important• They don’t know enough about their product or
service to effectively apply it to the needs of prospects
Resources: Use coupon
• Go to www.FiveMountainPress.com/books.html
• Use coupon “california” to get 20% off
Startup WorkshopAll rights reserved © Naeem Zafar
42
Summary
• Learning how to think clearly & present in a way that people will “get it” is probably THE most important business skill
• Hearing is voluntary, listening is not!
